McDonald’s Corporation $MCD Shares Sold by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC decreased its stake in shares of McDonald’s Corporation (NYSE:MCD) by 11.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 80,807 shares of the fast-food giant’s stock after selling 10,445 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in McDonald’s were worth $23,610,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MCD. Nuveen LLC purchased a new position in McDonald’s during the first quarter worth $1,324,961,000. Price T Rowe Associates Inc. MD grew its stake in McDonald’s by 16.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock worth $2,917,993,000 after acquiring an additional 1,344,954 shares during the period. Goldman Sachs Group Inc. grew its stake in McDonald’s by 19.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock worth $1,556,485,000 after acquiring an additional 815,768 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in McDonald’s by 732.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 650,544 shares of the fast-food giant’s stock worth $203,211,000 after acquiring an additional 572,408 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in McDonald’s by 204.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 607,145 shares of the fast-food giant’s stock worth $177,390,000 after acquiring an additional 407,982 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling

In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the completion of the transaction, the executive vice president directly owned 8,754 shares in the company, valued at $2,713,740. The trade was a 22.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $300.00, for a total value of $300,000.00. Following the transaction, the chief marketing officer owned 8,858 shares of the company’s stock, valued at approximately $2,657,400. This trade represents a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,402 shares of company stock worth $2,273,407. 0.25% of the stock is currently owned by company insiders.

McDonald’s Trading Up 0.3%

Shares of NYSE MCD opened at $303.99 on Wednesday. The company has a market cap of $216.93 billion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 3.09 and a beta of 0.50. McDonald’s Corporation has a 12-month low of $276.53 and a 12-month high of $326.32. The stock’s 50 day simple moving average is $306.72 and its 200 day simple moving average is $306.25.

McDonald’s (NYSE:MCD) last announced its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping the consensus estimate of $3.15 by $0.04. The firm had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.68 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.97 earnings per share. As a group, equities analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.3%. The ex-dividend date was Tuesday, September 2nd. McDonald’s’s dividend payout ratio (DPR) is 60.67%.

Analyst Ratings Changes

Several analysts have commented on MCD shares. Argus cut shares of McDonald’s from a “buy” rating to a “hold” rating in a research note on Friday, June 13th. Stifel Nicolaus lifted their target price on shares of McDonald’s from $300.00 to $315.00 and gave the stock a “hold” rating in a research note on Friday, August 22nd. TD Securities reaffirmed a “hold” rating and issued a $305.00 target price on shares of McDonald’s in a research note on Thursday, June 5th. Piper Sandler lifted their target price on shares of McDonald’s from $314.00 to $325.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Finally, Evercore ISI increased their price target on shares of McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Eleven research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, McDonald’s presently has an average rating of “Hold” and an average price target of $325.86.

McDonald’s Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.